However, Royal Mail chairman Peter Long told the annual meeting that Mr Back’s “fixed pay” would be “exactly the same” as Ms Greene’s because of differences to their pensions.

Following the meeting, Royal Mail’s remuneration committee chair, Orna Ni-Chionna, said: “We are very disappointed that the advisory vote on the DRR [directors’ remuneration report] was not carried.

“We recognise and understand the reasons why our shareholders felt they could not vote in favour of the DRR this year.

“We will consult very closely with them and with the shareholder representative bodies as part of our scheduled review of the company’s remuneration policy. This is due to take place in the autumn.”

Ms Ni-Chionna added: “The incoming CEO’s pension entitlement is lower and the salary is higher than the retiring CEO. We did not feel it was appropriate to reduce the fixed pay for this very demanding role.”